The 2013 African Nations Cup tournament is underway in South Africa and entered its knockout stages today. Starting today, there is no second chance for any team. The team either wins or loses; progress to the next stage or board the next flight home. You might ask! What has this got to do with my business venture?
To be successful in business, especially for start-ups, you have to appraise your venture like a football game every now and then, constantly looking out for punishable mistakes and devising strategies that will keep you on top at all times. Some of the tips below are not only useful on the football pitch, but can help ensure that your venture stays successful in the market place regardless of the competitive landscape.
- First and foremost, It’s never over until it is really over. Be it a proposal to win new business, a new project, customer acquisition, new branding etc. Never take your eyes off the goal and ensure that you and your team remain motivated till the very end.
- Understand what fatal mistakes you should never make in business. Certain mistakes can lead to revenue loss, reduction in market share, reputational loss etc; but ensure that everyone on your team understands the type of mistakes than can take the company under. Also, be sure to avoid repetition of these seemingly small mistakes as they can continually erode value and weaken the business.
- Make good use of open opportunities (counter-attacks)
- Never be comfortable with a 1-0 lead. Ensure that you are fully aware of what the competition is up to. Constantly get feedback from your customers and incorporate the feedback to improve product and service delivery.
There is so much to learn from football games as a business person. Keep that mindset of having only ninety minutes and you will run a much more nimble and responsive business venture.
More tips soon….Comments welcome….